Mexico Trade May 2019

Mexico

Mexico: Exports gain steam in May

June 27, 2019

Exports grew a solid 6.7% year-on-year in May, above April’s 6.1% increase. A smaller drop in oil exports and booming automobile exports drove the uptick. Meanwhile, import growth stalled in May, coming in at 0.1% over the same month last year (April: +1.6% yoy).

The merchandise trade surplus came in at a healthy USD 1.0 billion in May, contrasting the USD 1.6 billion deficit registered in the same month a year ago. The trend continued to improve, with the 12-month trailing trade deficit narrowing to USD 9.5 billion from USD 12.0 billion in April.

LatinFocus analysts expect exports to reach USD 477 billion in 2019, which would represent a 5.9% year-on-year expansion. Meanwhile, imports are expected to expand 5.8% and reach USD 492 billion. For 2020, the panel expects exports and imports to expand 6.2% and 5.9%, respectively.


Author: Angela Bouzanis, Lead Economist

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Mexico Trade Chart


Mexico Trade12m May 2019

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Mexico National Statistical Institute (INEGI)


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